Fed adds $24 bln in temporary reserves in 7-day repo

NEW YORK Oct 4 (Reuters) - The U.S. Federal Reserve on Thursday said it added $24 billion of temporary reserves to the banking system via a 7-day repurchase agreement.

The Fed accepted as collateral $18.32 billion of Treasuries, $5.04 billion of agency debt and $640 million of mortgage backed securities.

Federal funds traded in the market at 4.75 percent after the operation amount was announced, matching the 4.75 percent target rate the Fed sets.

Earlier on Thursday, the Fed added $4 billion of temporary reserves to the banking system via a 14-day repurchase agreement, accepting Treasuries as collateral.